R.F. Cuervo, Inc. In Celebration of its Golden 50th Anniversary; our own version of “Cuervo Gold Real Estate Services”.
The company’s history started with Mr. Ramon F. Cuervo Jr., who started his profession in real estate in 1949 by working for his father-in-law, Federico Calero of F. Calero and Co. In 1958, he organized Perpetual Investments, Inc., a real estate brokerage and development company.
In 1967, he established his own family corporation called RF Cuervo, Inc. (RFCI) and was involved in subdivision development, sales, leasing and brokerage agency, corporate services, property appraisals, real estate consulting and building management. In 1980, due to the large demand for property appraisals, Mr. Ramon F. Cuervo, Jr. together with his son Ramon C.F. Cuervo III invited some investors to help them establish Cuervo Appraisers, Inc. (CAI). CAI has since become the premier and most respected Appraisal Company in the Philippines.
Due to political stability and dramatic economic growth in the Philippines in 1993, there was a substantial increase in real estate business opportunities. RF Cuervo Inc (RFCI) and Cuervo Appraisers, Inc. (CAI) spearheaded the creation of an integrated property services company – Cuervo Far East, Inc (CFEI) to expand services to foreign markets.
CFEI was associated with Richard Ellis from 1996 to 1998. The association was dissolved when CB Commercial decided to buy Richard Ellis Worldwide in 1998. In late 2000, CFEI established an informal working relationship with Cushman and Wakefield (C&W) and in February 2002 they formally signed an association agreement to become the local associate office of Cushman and Wakefield servicing their worldwide clientele.
Upon retirement from Cuervo Far East, Inc. (CFEI) and 26 years of service in Cuervo Appraiser, Inc. where he still serves as the Chairman, Mr. Ramon C.F. Cuervo III established RACuervo, a sole proprietorship in real estate specializing in innovative and creative real estate projects such as medical services, pioneer in establishing medical clinics in a mall, home care services, cooperatives and the like. The company was officially registered with the Securities and Exchange Commission (SEC) on August 3, 2004.
We look back at the year 2012 about the things that happened to our industry. Mr. Ramon C.F. Cuervo III and Prof. Roque Sorioso shared their inputs while we researched on other real estate institutions on what transpired in the real estate industry for 2012.
According to Prof. Sorioso, the Philippine property market performance during the first semester of 2012 was by and large positive. Listed company earnings grew by 22.3% while revenues grew by 25.9%. This was made possible by higher completion rates in projects, particularly residential projects, which pulled up the whole market. Third quarter performance is likely as good as the first quarter, given the unexpectedly strong GDP growth rate of 7.1%. The main driver, according to the NEDA, was strong consumption and government expenditures, supported by good growth in agriculture and exports.
RACuervo’s FOOTPRINTS ON LAND: PROFILE ON REAL ESTATE INDUSTRY PART 1
RACuervo’s FOOTPRINTS ON LAND: PROFILE ON REAL ESTATE INDUSTRY PART 2